An increases in the provision for doubtful debts results ...
An increases in the provision for doubtful debts results is a\an
Increase in the gross profit
Decrease in the gross profit
Decrease in the net profit
Increase in the net profit
Correct answer is C
The higher the provision for doubtful debt, the lower the net profit at the end of the period
A list of all credit and debit balance from the ledger accounts is ...
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦3...
Set-off is carried out in the control account when ...
An effective accounting system should provide information ...
Sales N20,000 Cost sales N10,000 Operating expenses N2,500 Expenses prepaid included in op...
\(\begin{array}{c|c} & N \\ \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/98)} &am...
Which of the following is a credit item in creditors ledger control account? ...
\(\begin{array}{c|c} & & ₦ \\ \hline \text{capital accounts:} & Ojo & 40,000 \\ &a...
The purchase day book is used to record ...
When partners maintain fixed capital accounts, the correct entries for a partner's share of prof...